Summary of our market study

The global nail polish market has demonstrated promising growth since 2020, despite facing an 8% decline due to the COVID-19 crisis. With a market size estimated at $10.5 billion in 2020, it accounted for about 5% of the global cosmetics market, which stood at over $200 billion excluding certain categories. The Asia Pacific region dominated the market with a 43% share, with North America and Western Europe following at 24% and 16% respectively. Traditional liquid polishes are being overshadowed by the rising popularity of permanent and semi-permanent alternatives, occupying more than a third of the market.

Growth forecasts expect an annual market increase of 8.2% from 2020-2027, potentially reaching $18.200 million by the end of the period. Innovation continues to fuel market expansion, with varied nail polish types and application methods emerging, such as gel and spray polishes, LED/UV-curable options, and a range of textures and finishes catering to consumer preferences for personalization and the latest trends.

The Spanish Nail Polish Market: Trends and Analysis

In Spain, the nail polish market is a vibrant segment of the broader cosmetics industry, reflecting the importance and growing interest in beauty and personal care among consumers. The landscape of nail polish demand in Spain is shaped by a variety of preferences and trends that paint a picture of an industry in flux, adapting to new customer behaviors and market conditions. From an overview of consumption patterns, it's evident that Spanish women have varying frequencies of nail polish usage, which range from a few times a week to less than once a month. In recent years, there has been a discernible shift towards less frequent usage, but with a preference for longer-lasting products, as well as an uptick in online purchases. Notably, approximately between 3 and 4 million Spanish women apply nail polish less than once a month, highlighting a segment that manufacturers and brands could target with specific product offerings. Traditional nail polishes in Spain face stiff competition from permanent and semi-permanent alternatives, now cornering more than a third of the market—a significant leap from the 5-10% they held just a few years prior. This shift suggests that Spanish consumers are looking for durable, low-maintenance options that provide lasting color and shine.

As it stands, the Spanish nail polish market is the fifth largest in Europe in terms of turnover within the broader perfume and beauty industry. The market is not only expansive but also dynamic; it has seen a decline in certain areas, like the use of traditional nail polishes, while semi-permanent and alternative options surge in popularity. The size of the nail polish market in Spain, as estimated from the sector's earnings, stands at around €124 million as of 2021. This represents roughly between 1.50% to 1.60% of the cosmetics sector in Spain. This figure is a crucial indicator of the nail polish segment's contribution to the overall market. Within this category, nails make up 18.4%, indicating a robust niche that continues to grow. Yearly, an average Spaniard makes about between 15 and 20 beauty product purchases and spends an estimated €166 on cosmetics. Moreover, each person uses between 6 and 7 beauty products daily, underscoring the significance of the cosmetics sector in daily life, as well as the potential market for nail.

Prominent Players Shaping the Nail Polish Landscape

The nail polish industry is awash with a vibrant spectrum of companies, each contributing meticulously crafted products to meet an equally colorful variety of consumer preferences.

  • Leading the charge in Europe is IL Cosmetics, a titan in the realm of lacquer that proudly stands as the continent's premier nail polish provider and the world’s second in line. With innovation at the helm, IL Cosmetics consistently delivers top-tier products that grace the shelves of avid beauty enthusiasts.
  • Not to be outdone, Fiabila carves out its claim to fame as the world leader in nail polish supply. Known for its extensive global presence, the company operates 12 factories scattered across 8 countries. Fiabila's nail polishes coat the fingers of countless individuals, rivaled only by the sprawling magnitude of their international operations.
  • Treading in the luxurious end of the market, brands like Dior and Chanel exude elegance and sophistication with every stroke of their meticulously produced varnishes. Dior enamors with its premium pricing, revealing an air of exclusivity with every gleaming bottle. Chanel, too, commands a presence with its acclaimed selection, each varnish a hallmark of the brand’s enduring legacy in the beauty and fashion sector.
  • The scene is also graced by specialized brands such as OPI and Essie, which serve as flag-bearers for quality and design in nail adornment. OPI's diverse range, inclusive of semi-permanent and gel options, caters to a global clientele seeking durability and a broad palette.
  • Similarly, Essie’s enamels, known for their creamy textures and extensive color options, are a go-to for nail polish aficionados looking for long-lasting wear and charm.
  • Peggy Sage operates as a venerable name in the nail care industry, also offering an extensive array of polishes, treatments, and accessories that speak to both professionals and home consumers alike. Their accessible pricing allows for the enjoyment of quality without the lofty expense, bridging the gap between luxury and affordable care.
  • Yves Rocher and Kiko represent the cosmetic brand segment, delivering an appeal that extends beyond the nails to encompass a full beauty routine. Yves Rocher, with its ethos of botanical beauty, ensures that each polish aligns with a commitment to natural ingredients.
  • Kiko, known for its trendsetting and fashion-forward products, offers the allure of high-quality beauty at remarkably competitive prices, making it a brand favored by those who seek style without strain on the wallet.
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  • Number of pages : ~ 40 pages
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  • Last update : 27/02/2023
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Summary and extracts

1 Market overview

1.1 Definition and presentation

Nail polish is a liquid that is applied to the nails to beautify and protect them. There is a wide variety of nail polishes depending on the colors, brands or substances they contain.

Worldwide, the nail polish market is growing, benefiting from women's interest in nail polish and the increasing diversification of supply. Brazil is the world's leading market by volume and could also become the world's leading market by value in the coming years. Traditional nail polishes are losing ground to permanent or semi-permanent alternatives, which now account for more than a third of the market, up from 5-10% in 2014.

Spain ranks as the fifth European country by turnover in the broader perfumery and beauty market, of which the nail polish segment is a part. Nail polishes are growing with less frequent use but with longer-lasting products and an increase in online purchases. Around 3.8 million Spanish women reported applying nail polish less than once a month in 2020, 1.7 million once a month, 3.6 million two or three times a month, 2.7 million once a week and 750,000 several times a week. The proportion of women who report using nail polish once a month or less has increased, mainly at the expense of using nail polish several times a week. Among the most popular brands in the Spanish market is MIA Cosmetics Paris, which accounts for about one in two sales in pharmacies.

1.2 The world market

The global cosmetics market:

The global cosmetics market, of which the nail market is a part, is growing rapidly:

Annual growth rates of cosmetic products World, ****-****, in Source: ****

The market had been growing for several years, until ****, when it recorded an *% decline compared to **** because of the impact of the ...

1.3 The Spanish market

To estimate the size of the nail polish market in Spain, we will focus on the distribution of the different products within the cosmetics sector in Spain, which will allow us to determine the share of nail polish and deduce the market turnover in ****.

In Spain, the cosmetics sector is divided ...

1.4 Imports and exports

Evolution and geographical distribution of exports :

Spanish cosmetics exports reached a volume of €*.* billion in ****. During the whole period ****-****, the trade balance was positive and the trade surplus increased to reach *.* billion euros in ****. The coverage ratio (***) is ***% in ****.

The cosmetic products that increased the most in terms of exports ...

2 Demand analysis

2.1 Consumption patterns and demand trends

Nail polish demand in figures :

Evolution of cosmetics demand Spain, ****-****, in millions of people Source: ****

In ****, ** million Spaniards bought at least one beauty product, *% more than in **** and *.*% more than in ****. On average, in ****, a Spaniard made **.* beauty product purchases per year.[***]

The average expenditure on cosmetics amounted to *** euros ...

2.2 Favorite colors

OPI, one of the world's leading nail polish brands, has released its ranking of the ** best-selling nail polishes in ****:

the ranking reads from left to right, from the first line to the last.

These are the names of the polishes, from *st to **thᵉ: Bubble Bath, Big Apple Red, Tickle My ...

2.3 Increased demand on the Internet

The demand for nail polish on the Internet is increasing rapidly:

The evolution of the Google Trends index in the period ****-**** for the search "nail polish" shows that the number of searches has increased strongly. However, a slight decrease is observed in **** due to the Covid-** crisis. Indeed, confinements and ...

3 Market structure

3.1 Manufacture of nail polish

The Product

According to Cosmetic OBS, nail polish is manufactured from "room temperature mixtures of constituents and dispersions of pigment particles in high-voltage equipment such as bead mills."

Source: ****

The nail polish production scheme thus follows five stages:

Preparation of a transparent colorless varnish The preparation of a thixotropic gel Preparation ...

3.2 Number of companies and number of employees in the industry

The sector in figures:

The cosmetics sector in Spain has *** companies. Eighty-four percent of them are small or medium-sized companies (***). Sixteen percent are large international groups.

The sector directly employs **,*** people and there are ***,*** indirect jobs[***]

where are the players located?

Most of the companies in the nail polish sector are ...

3.3 The different distribution channels

The main distribution channels:

Reflecting the breadth of supply in the nail polish market, more or less high-end and responsible, the distribution channels are very varied in the market.

Among the distribution channels of the nail polish market in Spain we find :

Large-scale distribution (***) Selective distribution (***) Specialized cosmetic brands (***) Department stores ...

3.4 Marks

Example of nail polish manufacturers :

IL Cosmestic: number * in Europe in nail polishes and number * in the world[***].

Fiabila: number * worldwide, Fiabila is a global nail polish supplier with ** factories in * countries[***].

Top nail polish companies:

Top ** cosmetics companies in Spain:

Ranking of companies by sales Spain, ****, in millions of euros Source: ...

4 Offer analysis

4.1 Different types of nail polish

Different types of nail polish :

Classic "nail polish: a few days of fixation Semi-permanent nail polish Nail prosthesis: acrylic, gels, acrygels, gel varnish, modelling powder, false nails, capsules

Different types of nail polish for different application phases:

Base: applied before nail polish Color: the nail polish that gives color to the ...

4.2 Heterogeneous prices

Nail polish prices vary greatly depending on the brand and type of polish. Prices range from less than * € for entry level to **-** € for high-end nail polishes, per liter we can see a price range from *** € per liter from Kiko to *.*** € per liter from Dior for classic nail polishes.

We updated ...

4.3 Coating products: nail polish remover, care, accessories and electrical appliances

There are many products to complement the use of nail polish:

Nail polish removers:

It's one thing to put on nail polish and another to take it off, and that's what nail polish removers are for. There are nail polish removers with or without acetone or foam nail polish removers, a ...

5 Regulation

5.1 Cosmetics and nail polish legislation in Spain

The AEMPS, Agencia Española de Medicamentos y Productos Sanitarios, is responsible for the regulation of cosmetic products and nail polishes in Spain.

The main regulations are as follows (***):

Royal Decree **/**** regulating cosmetic products Regulation (***) No. ****/**** on cosmetic products Regulations amending the annexes of Regulation (***) No. ****/**** Frequently Asked Questions and Answers ...

6 Stakeholder positioning

6.1 Agent segmentation

  • L'Oréal Groupe
  • Yves Saint Laurent Parfums (Groupe L'Oréal)
  • ESSIE (L'Oréal Groupe)
  • OPI
  • Sephora
  • Fiabila
  • IL Cosmetics
  • Rocher Groupe (Yves Rocher)
  • 3INA
  • Douglas
  • Druni

List of charts presented in this market study

  • Nail polish market size in value and forecast
  • Annual growth rates for cosmetic products
  • The main players in the cosmetics market by turnover
  • Breakdown of turnover in the cosmetics sector
  • Breakdown of turnover in the make-up sector
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Latest news

Behind the glamour, L'Oréal's massive investments in its French factories - 01/05/2024
  • - 38 L'Oréal plants worldwide.
  • - 11 plants located in France, employing 3,000 of the country's 15,000 employees.
  • - 500 million euros invested by L'Oréal over the last five years in its French industrial base.
  • - French production accounts for 25% of L'Oréal's worldwide production volume, 80% of which is destined for export.
  • - The Caudry (Nord) plant is one of L'Oréal's largest, with 500 employees and 97% of production supplied to international markets.
  • - 7,000 new products launched each year by L'Oréal.
  • - Prada skincare products and Ralph Lauren fragrances manufactured in France since their integration into L'Oréal in 2019.
  • - 100% of L'Oréal group fragrances are made in France.
L'Oréal becomes number one in luxury cosmetics and dethrones Estée Lauder - 11/02/2024
  • 2023: the strongest year of sales growth in 20 years
  • L'Oréal, the world leader in this sector, becomes number one in the prestige skincare, make-up and fragrance segment, sold in department stores and perfumeries. It dethrones the American Estée Lauder(Estée Lauder, Clinique, La Mer, Jo Malone, Frédéric Malle, Tom Ford...).
  • sales of L'Oréal Luxe (Lancôme, Yves Saint Laurent, Biotherm, Armani, Kiehl's, Helena Rubinstein...) rose by 4.5% in 2023 to 14.92 billion).
  • L'Oréal has outperformed the luxury goods market for 13 years
  • Total group sales 41.2 billion euros in 2023 (+ 11%).
  • World leader in fragrances and skincare products.
  • Comeback ofHelena Rubinstein, thebrand founded in the United States in the early 20th century and owned by L'Oréal since 1984
  • In 2023, Helena Rubinstein exceeded one billion euros in sales.
  • Sales have increased 10-fold in ten years.
  • L'Oréal Luxe controls 32% of the prestige products market.
  • Perfumes: 20% growth.
  • Success of "La Vie est Belle", Valentino and Prada licensed fragrances (Paradoxe), Yves Saint Laurent's Libre, second best-selling fragrance for women in Europe.
  • Good start for MYSLF
  • The division dedicated to consumer products (L'Oréal Paris, Garnier, Maybelline...) has overtaken L'Oréal Luxe again

Another record year for L'Oréal - 09/02/2024
  • -Cosmetics market growth in 2023: 8.5
  • - Increase in L'Oréal sales in 2023: 7.6% (published), 11% (comparable data)
  • - L'Oréal sales in 2023: 41.18 billion euros
  • - Number of L'Oréal "billionaire" brands in 2023: 12
  • - Growth of L'Oréal's consumer division in 2023: 8.2
  • - L'Oréal consumer division sales in 2023: Over 15 billion euros
  • - L'Oréal Paris sales in 2023: 7 billion euros
  • - L'Oréal dermatological division sales in 2023: 6.4 billion euros
  • - L'Oréal dermatological division growth in 2023: 25.5
  • - Sales growth for L'Oréal's luxury division in 2023: 2% (organic)
  • - L'Oréal luxury division sales in 2023: 14.9 billion euros
  • - L'Oréal growth in Europe in 2023: 14% (published), including 9.2% in the year-end period
  • - L'Oréal growth in the United States in 2023: 10%.
Sephora to rapidly increase sales from 12 to 20 billion euros - 23/10/2023
  • Sephora is the world leader in selective perfumery.
  • LVMH has owned Sephora since 1997.
  • The Sephora store on the Champs Elysées welcomes 10,000 visitors a day.
  • The global beauty market grew by 6% last year to reach 250 billion euros.
  • Sephora has forecast 17% growth by 2022.
  • The brand has 2,700 stores.
  • By 2022, according to analysts, Sephora has almost reached 12 billion euros in sales.
Beauty: how Sephora is expanding in the United States - 07/10/2023
  • America is its first market
  • The French group opened its first store there twenty-five years ago
  • Today, it has 658 directly-operated stores on the American market, including 22 in New York
  • Sephora is present in 35 markets with 2,700 stores
  • A $430 billion industry according to McKinsey
  • The United States will consolidate its position as the world's leading beauty market, growing from $70 billion in 2022 to around $100 billion in 2027 (McKinsey).
  • The brand contributes 20% of LVMH sales and 12% of the Ebit of the number one in luxury goods.
  • sephora is America's leading selective retailer.
  • American retailer Kohl's, which has stores in 29 states, partnered with Sephora in 2020, and they share 862 "Sephora Kohl's".
Yves Rocher seeks to sell its factory in Ploërmel, Morbihan - 27/09/2023
  • Yves Rocher's Ploërmel plant was on the verge of closure due to high fixed costs.
  • The group has announced a plan to reduce the workforce at its three sites in Brittany.
  • The Yves Rocher Group is a family-owned business founded in 1959.
  • The cosmetics giant has sales of 2.4 billion and 16,300 employees in 114 countries.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

L'Oréal Groupe
Yves Saint Laurent Parfums (Groupe L'Oréal)
ESSIE (L'Oréal Groupe)
OPI
Sephora
Fiabila
IL Cosmetics
Rocher Groupe (Yves Rocher)
3INA
Douglas
Druni

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